According to Fast Company, the cloud is “a vast network of low-cost, high-availability computing resources.” Thousands of businesses are making the switch from on-premise to the cloud.

According to recent research, almost 60% of companies are already in the cloud and an additional 20% are planning to do so within the next 12 months. Why? Here are the benefits that are enticing businesses to adopt cloud computing:

Reduced costs by only paying for the resources you consume

Increased protection against computing failures and network outages

Flexibility and scalability, so you don’t have to purchase hardware that you won’t use

Helps you go green by lowering carbon emissions and the use of electricity and infrastructure

Increased speed

Helps you gain a competitive advantage by “innovating, collaborating and experimenting at a low cost.”

To sum it up, cloud computing helps businesses of all sizes compete at a higher level than ever before. If you want to learn more about cloud computing, here are some more great articles to check out: